What are the responsibilities and job description for the Tax Specialist position at Palco?
TAX SPECIALIST
The Tax Specialist performs daily accounting duties related to program operations, including all tasks associated with filing and reporting required payroll taxes and tax reports, making journal entries, and performing reconciliations.
Essential Functions:
- Performs monthly bookkeeping including reconciliation of general ledger accounts to various outside sources, such as billing records, tax reports, or bank statements.
- Researches state-specific laws as they pertain to enrollment of employers and workers’ tax.
- Develops a process for continual compliance with state and federal payroll tax laws and regulations.
- Registers Palco with various State and Federal entities in order to establish individuals as new employers and ensure that the company is able to timely file tax and labor reports.
- Maintains tax accounts in good standing for our clients.
- Oversees the process of establishing individuals as the employer of record with necessary state and federal parties, including monitoring the appointment of agent letters and tax identification number assignments.
- Research, compiles and develops procedures regarding new processes associate with State entities as they relate to tax reporting.
- Responsible for accurate and timely filing of all tax deposits and reports, including SUTA, state income tax reports and reconciliations, IRS Forms 941 and 940, W-2, W-3, 1099 and 1096.
- Ensuring that liabilities, such as taxes and garnishments, are paid timely.
- Reconciling workers’ compensation policies and producing information for the annual audit with the insurance carrier.
- Performing projections related to budgetary estimates for workers’ compensation and other tax costs.
- Assisting in projects, such as audits and reviews, as well as other accounting-related projects, such as year-end closeouts and tax report preparation.
- Generating other accounting-related reports, as needed, on an ongoing basis.
- Documenting relevant accounting procedures, as required.
- Maintaining confidentiality of records.
- Make recommendations on modifications for improvement to processes.
- Performing periodic quality reviews of data.
Education and Experience:
- 4-year college degree is preferred in a business-related discipline. Accounting majors preferred.
- 3 years of experience working in bookkeeping, accounting, or processing.
Knowledge and Skills:
- Working knowledge of payroll, payroll taxes, general ledgers, and accounting or bookkeeping.
- Skills in operation of accounting software and Microsoft Excel, as well as general computer skills.
- Ability to apply critical thinking skills, such as analyzing data and/or interpreting rules, drawing logical conclusions, and applying smart solutions to unique situations.
- Self-starter; willingness to take ownership of their process.
- Communicate and listen effectively and clearly, both verbally and in writing.
Palco, Inc. is an Equal Employment Opportunity (EEO) employer and does not discriminate in any employer/employee relations based on race, color, religion, sex, sexual orientation, gender identity and expression, national origin, age, marital status, disability, veteran status, genetic information or any other basis.
